Shandong Province-based Chinese steelmaker Shandong Iron and Steel Co., Ltd (Shandong Steel) has issued the financial report for 2022, announcing that it registered an operating revenue of RM 102.289 billion ($14.9 billion), down 7.72 percent year on year, while posting a net profit of RMB 555 million ($80.8 million), down 54.8 percent year on year.
In 2022, the environment for the steel industry was extremely tough amid the volatile international political and security situation, which contributed to the shrinking profitability of Shandong Steel.
$1 = RMB 6.8717